... real interest rate and investment, this section employs a 3-equation investment model which tests for the effect of below equilibrium and above equilibrium interest rates on investment. The model ... Morocco, Niger, Sierra Leone, Senegal, Swaziland, Tanzania and Zimbabwe. As discussed before, a positive and significant relation between the real interest and investment implies that saving is positively ... on investment would be positive below equilibrium and negative above it. These are Burkina Faso, Ghana, Nigeria, Sierra Leone, Senegal, Swaziland, and Zimbabwe. In the case of Burkina Faso and...